SCOTTSDAVE, AZ -- Apriva announced that it will continue offering its discounted rate program to merchant acquirers and independent sales organizations that serve vending operators who use Apriva Vend cashless services.
The rates, which Apriva implemented last February, are comparable to those before the enactment of the Durbin Amendment, and cover payments made by Visa-branded credit, debit and prepaid cards.
On Oct. 1, 2011, Visa and MasterCard increased the debit card interchange fee cap to 22¢ per transaction, nearly tripling the cost of the average vending transaction, in response to limits imposed by the Durbin Amendment. | READ MORE
Apriva Vend is an end-to-end cashless payments solution that incorporates system hardware and software, wireless connectivity, transaction and alarm reporting capabilities, and integration with payment processors and financial institutions. It is delivered as a monthly service through merchant acquirers and ISOs.